CMS Info SystemsLtd.(NSE: CMSINFO)|Q3 FY23 Results Out|Total Income rises 22% yoy

CMS Info Systems Limited (NSE: CMSINFO) is an Indian IT services company that provides end-to-end technology solutions and services to clients across various industries. Their services include IT infrastructure management, digital transformation, cloud computing, cybersecurity, and IT consulting. CMS Info Systems serves clients in multiple industries, including retail, financial services, healthcare, and government. The company has a strong presence in India and has expanded its operations to international markets as well.

In the third quarter of the fiscal year 2023, the company saw strong growth in its revenue, which was up 21.7% YoY to Rs 493 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw growth of 28.9% YoY to Rs 135 crore, with an EBITDA margin of 27.7%. The profit after tax (PAT) increased by 25.8% YoY to Rs 76 crore. The number of business points for cash management increased by 9% YoY to 1,20,000, and the company saw the highest ever quarterly currency throughput at Rs 3.3 trillion, which was up 10.7% YoY.

The company also won a large contract from a leading bank for their propriety ATM security software solution and their AIoT remote monitoring business crossed the 20,000 live sites milestone. The executive vice chairman and CEO of the company, Mr. Rajiv Kaul, commented that despite macro challenges, the company had delivered strong results in the third quarter with industry-leading growth and earnings, which were up 26% YoY.